Welcome to Finance and Fury, the Furious Friday edition

This is a continuation from this week’s Say What Wednesday episode, in part one on Who to vote for? Check it out here.

Part 1:

  • Political culture
  • Tribalism
  • 3 main parties policies and promises

Today:

  • How to tell the difference between promises and policies?
  • Break down how votes tend to end up with 2 parties

How to tell a promise from a policy?

  • Every promise focuses only on the outcome
  • Look at if the policy proposal is stating an outcome versus how it will be done
  • Example: “Uni should be free” – how is this achieved?
  • The breakdown is the difference between dialectic and rhetoric
    • Rhetoric – language designed to have a persuasive or impressive effect, but which is often regarded as lacking in sincerity or meaningful content.
    • Dialectic – discourse between two or more people holding different points of view about a subject but wishing to establish the truth through reasoned arguments – but truth requires facts/information
  • Social media and the spread of disinformation makes rhetorical very powerful
  • Look at the Russian collusion of the election in the US
  • Scott Morison targeted by social media accounts affiliated with the Chinese Communist Party
  • Comedy is used as a subversive tactic

Subversive tactics are used to pass policies with positive rights:

  • Previous episode on positive rights
  • Negative rights make it illegal to do something to you, positive rights make it legal to force you to do something
  • Healthcare as an example: Nobody can stop you from seeking medical treatment vs medical treatment is covered by the taxpayers. Someone is forced to pay for it, falling into the positive right territory.
  • Rhetorical statements get used in regards to something being free or human rights
  • Labor website
  • Liberal website
  • One relies on policies and the other relies on rhetorical statements
  • The how or focus to achieve an outcome is very important

What are the polls saying?

  • Polling in Australia is more accurate, as it is compulsory to vote
  • Current polls suggest Labor will win, but now not so much
  • But what about the Primary Vote? Why can a party with more votes end up losing?

Preferential voting:

  • Does your vote count?
  • What you think about your vote is important
  • The number of formal votes a party needs is 50% +
  • 2 systems of preferential voting
  • House of representatives – box with a number in order of preference
  • Senate – above the line and below the line voting
    • Above the line: preference a party
    • Below the line: number all individual candidates
  • How does preferential voting work?
  • The full distribution of preferences is used to calculate the two-party-preferred statistics
  • Your vote isn’t wasted

How do we vote for our PM?

  • We don’t, we vote for a member of a party and they chose the PM

Summary:

  • Break down of messaging used in campaigns
  • Evoking emotional responses versus focusing on outcomes
  • Every vote is important and does actually count

Thanks for listening, if you have any questions you can ask them here. 

Buying Property inside an SMSF: Tips and traps, what works and what doesn’t

Say What Wednesday Buying Property inside an SMSF: Tips and traps, what works and what doesn't Welcome to Finance and Fury, 'Say What Wednesdays' where each week we answer your questions. This week's question is from Sandeep: “Hi, Can you please talk about how to...

Private equity investments

Welcome to Finance and Fury. Looking at alternative to listed shares, with private equity. Globally, private equity has for many years been a niche area of the investment universe, dominated by institutional investors and very wealthy individuals. However, trends in...

What are the pricing and redemption risks of Managed Funds versus Listed Investment companies?

Welcome to FF – SWW- answer questions from each of you – this week from Sebastian   Hey Louis. I've been thinking about the pro's and con's of Managed Funds vs LICs/LITs. It occurs to me that one of the main disadvantages of managed funds is their open-ended...

Financial markets and their comparisons to betting on the US election

Welcome to Finance and Fury, the Furious Friday edition. In this episode we will not be looking at the great reset further, that will be next week, but instead we will be having a look at how financial markets compare to the betting markets – in relation to the...

Looking at the factors behind the AUD/USD exchange rate movements

Welcome to Finance and Fury. Last Monday – talked about exchange rate basics Summary - There are a number of factors that go into analysis of the fundamental health of economies and the implications for currency movements – and in turn these can affect the exchange...

Bridges to nowhere – China’s debt problems

Welcome to Finance and Fury. In this episode we are going to look at the debt problems that China has – at the moment, economic news globally is going from bad to worse, with talks of recessions, high inflation, declining financial markets – but with all of this...

Should I invest in large, mid or small cap shares?

Welcome to Finance and Fury. Where to invest within the share market? Large, mid or small cap? What is best? The answer to this is highly dependant on what types of returns you need – and your timeframes The content of this episode is general information only – Not...

One of the best places to invest in 2019, is to invest in yourself

Welcome to Finance and Fury! Today’s episode we continue our miniseries which looks at the best places to invest in 2019… Turns out, one of the best places to invest in 2019 might actually be in, Yourself. Today’s episode is the first building block for the next two...

How to negate Central Banks negative effects in your own life

Welcome to Finance and Fury. There will be two parts to this episode. Firstly, do we even need Central banks and what is an alternative, then secondly, as they are probably not going anywhere anytime soon, how to negate their negative effects on your own life. If you...

Moral hazard and the Evergrande collapse

Welcome to Finance and Fury. In this episode we will be looking at the Property market in China and focus on the Evergrande developments – in particular if there is actually a timebomb starting to surface – and look at the potential contagion risks to the rest of the...

Pin It on Pinterest

Share This